16 Glenhaven Dr, Glendale

Understanding the 'Seller's Market'
Seller's market is simply a real estate market that favors the home seller due to a limited supply of housing. This could pertain to the overall market conditions, or those of a sub-market, such as a neighborhood, or particular size or price range. Seller's market is a moniker for a real estate market with 4 or less months worth of available homes for sale. This is determined based upon the average number of homes sold annually in a given market, and dividing by 12, then dividing the number of active listings by that product (average homes sold per month) to get the number of months of 'inventory.'
The process of home buying and selling changes drastically when the market shifts from a buyers to a seller's market or from a seller's market to a buyer's market. Public perception is that market shifts are less frequent and occur after years, but on a smaller scale, market shifts can occur many times a year based upon the number of homes available. If a neighborhood averages 2 sales per month, and there are 8 homes on the market, they have 4 months of inventory. If 4 more homes are listed for sale, then that neighborhood has experienced the shift.
Seller's markets often see multiple offers, escalation clauses, 'auction effect' on prices, and very low days on market. Buyer's must spend more time looking, must be prepared to view and make offers as soon as a home becomes available and can often times make offers on several homes before having an offer accepted. In many cases, homes are sold for considerably more than the asking price. During seller's markets, often times the deciding factor on which offer is selected is based upon how large of a downpayment, whether a loan is required, which financing is most likely to be issued, and which contingencies are added to the contract.
Lastly, seller's markets, plus the advent of social media, have caused a great deal of 'off market' or 'pocket' listings. Realtor only networking groups on social media announce 'coming soon' listings so agents can position their buyer's for success.
Below, our search covers three communities known for being a seller's market in the St. Louis area: Glendale, Kirkwood, and Webster Groves.
and there are 8 homes on the market, they have 4 months of inventory. If 4 more homes are listed for sale, then that neighborhood has experienced the shift.